Equifax, TransUnion, and Experian are the three credit agencies that gather information and report a “credit score.” They have a lot of sensitive information and, recently, Equifax was hacked. I thought I would share an email I wrote to my family for tips to protect your identity. It’s a really big deal, and I’m not sure how worried people are about it. I am in no way an expert, but they are a few simple steps to take to try to stop identity left.
Not sure if you’ve heard but last week Equifax was hacked for the 3rd time, and it is pretty major. I think we should all be secure and watch out for things. After researching, I recommend you take the below steps:
1. Check to see if your information may be compromised
143 million people were…I am one of them
2. Freeze your credit bureau reports
This makes it so you have to lift the freeze if someone needs to check your credit. You need to keep that in mind, but I don’t see myself applying for anything in the near future. It took me a few tries to get it to go through since they are really busy.
3. Sign up for ID Theft insurance
I registered for it, and it was very easy. Individuals are $75/year; family is $145. This is one that Dave Ramsey
promotes, and you know I’m a fan. If your identity is compromised, they assign an agent who will handle everything. I can’t attest to how easy that is (hopefully, I don’t!), but I think Dave Ramsey’s endorsement is strong.
4. Monitor your credit reports annually
You can do this for free at http://www.annualcreditreport.com
. I have a reminder on my calendar every 4 months to review one agency’s report so I can monitor it all year long. You can view 1 report/year for free. It does not give a credit score, but you should make sure the information is correct. It’s very easy.
Let me know if you have questions.
Personal Finance is one of my favorite topics to learn about. Whether it’s reading articles or listening to podcasts, I find the topic fascinating. Since it affects a large part of my life, I’m taking it as a good thing. In no way am I a trained professional; I just like to learn and talk about it.
For the past month, I have made a bigger effort in budgeting and controlling my spending. I have a healthy income, but it’s significantly less than I use to make. I’ve been blessed in that I’ve always tracked my spending, but I didn’t have to worry a lot. I set some new financial goals, so for me to achieve these, I need to save more money. My current motivation is listening to Dave Ramsey podcasts.
Most people know his name, but I’m not sure how much people know about him. I personally didn’t know his principles, but once I started listening to people’s stories about how they turned their life around, I was intrigued. Even though I don’t agree with all of the details, I love the philosophy. An example is that I wouldn’t get rid of my credit card. I am too worried about online security to use a debit card online, and I enjoy benefiting from travel / cash back perks. I pay my credit card off every month and would never consider carrying a balance. However, if you have credit card debt, and that is a weakness for you, eliminate the problem and cut up the card.
I didn’t do a perfect job budgeting this month, but it opened my eyes to how much unnecessary money I spend. Food is the biggest area of change for me. Whether it’s buying a lot of food at the grocery store (unnecessary), snacks on the go, or eating out, I can change my behavior to buy less. This month was an additional challenge because I planned two trips. I packed food before I left and watched what I spent at restaurants. Even doing this, it was hard. There were so many times when I thought, “I think I’ll go buy this” until I reminded myself of my goals. This is a huge paradigm shift for me.
February will be another tough month because of my trip to Switzerland. I’m preparing my budget now. Until next time, happy wanderings!